First Class? No Thanks. I'm Flying (er, Buying) Coach.
My suspicions have been confirmed (if you consider a post on BagSnob to be factual confirmation)...Markets take a dive, expect Coach stock to rise. Why? Talk to any Coach sales person and they'll tell you their clients "move on" to LV and the likes. It's a starter brand. There's a reason you see tweens carrying bags with the oversize "C" pattern... in the context of designer bags, this brand is affordable and an entry level bag (sorry, Coach lovers...you know it's true).
So in my WeSeed account I added in a ton of Coach stock. Yeppers, it's going up, up and away. Trust me, those $300-$700 bags start looking mighty good when you pop open your latest 401K statement (as an aside, we simply don't look at those statements anymore). And while I'm not a Coach fan myself these days, it seems I'm in the minority.
BagSnob Kelly shares many of my sentiments and reveals some interesting information on the state of Coach's business:
All this tell my investor to buy buy buy. The stock that is, because that is the only thing I'll from Coach. I just don't want a bag that literally everyone and their mothers (and grandmother's) carry. But that is why the stock is a good investment. In this economic climate, Coach is still going strong. Their outlet stores are doing business like you would not believe, it is a huge part of their business. People want good reliable bags with name recognition that is very reasonably priced...
...The Parker in nickle metallic is a total Prada knockoff but $398 for a leather bag is a really great buy. But then again, when the sales start, you can get a Miu Miu or Marc by Marc Jacobs for around the same price for a not so mediocre bag.
Personally, I find that I like looking at the products online (be it in blog posts or the corporate site) when they make a collage out of the bags (as seen above). Looking at the products themselves I don't actually like any particular item. They just aren't my style. And I agree with Kelly wholeheartedly: why buy Coach when you can wait around for a good sale at Saks or Barney's and buy a Prada or Bottega?
But I do love the fun illustrations, popping colors and occasional metallic flourish when assembled together for a group photo. Reed Krakoff "gives good photo" in my opinion. The designer in me loves the pix but can't find any individual products in the line she actually wants. (Confession: there is always one amazing shoe in their lineup that I do covet every season without fail. You'll see this season's amazing high heel in the photo below. But again I never buy the shoe because there is always a design flaw when I see it in person. Photos: rock. In-person: notsomuch.)
So I ask you... are you buying any bags? If so, are you buying less expensive bags? Are you looking more closely at Coach than Chloé or Chanel these days? Are you still a Coach fan?
dang girl. you bloggin' like a mougulette. stock and style talk. brains and beauty. well done. keep up the great work.
Posted by: Michael Calienes | April 20, 2009 at 07:22 AM
I am completely anti-monogram (be it LV, Gucci or Coach) and that's all I think about when I see the Coach brand.
Though I think Coach's design has come a long way... some of the more recent lines looks pretty good, but the price point has gone up considerably as well (e.g. upwards of $600 for the legacy line!!!).
More recently, the MbyMJ line really caught my eye. The price point is very reasonable for the leather quality. Other brands that are along the same price range that I really like are A.Corinna, R.Minkoff, Hayden Harnett, and Kooba.
ps. LOVE YOUR BLOG.
Posted by: angeline | April 20, 2009 at 09:59 AM
You know... when I write a post like this I expect to have to duck from flying eggs and tomatoes. It's nice to get a positive response to such a controversial topic - purses, egads!;)
Posted by: franki durbin | April 20, 2009 at 12:16 PM
I am a die hard LV fan. Although, I believe LV is going 'mainstream' also, being one of the next level up from Coach starter bags. If Coach's Legacy line is upwards of $600, why not just buy LV's starter line for the same price (Speedy)? But LV / Gucci / Balenciaga are the only ones I can probably afford. I can't go higher up now. The likes of Chanel are way beyond my budget!
Posted by: jen laceda | April 20, 2009 at 12:35 PM
That's just it... they've crept into the higher price range and you aren't necessarily saving any money at all. I agree. It is a shame LV has become so popular. I've got one or two lesser known bags, sans logos, so I like those. And Chanel... my day will come. ;)
Posted by: franki durbin | April 20, 2009 at 04:28 PM
I think the problem with Coach is that they have cheapened their brand so much with their ubiquitous outlets. They make cheap crap to put in the outlets, with very few "seconds" of the real deal from the real stores. Oh yeah, and the logo thing bugs.
I was in Target the other day and noticed that a lot of the Mossimo shoes were Coach knockoffs from about five years ago. Weird. They were from the fun preppy coach days though; very cute.
Posted by: becky | April 20, 2009 at 06:45 PM
I have purchased Coach bags for years, but I seriously don't know why, they are so heavy, some of the straps are too wide and fall off your shoulder and mostly they are everywhere, they just seem so dated now!!! I love the Marc by Marc Jacobs bags, the leather is so cushy!!!
Posted by: Debra | April 24, 2009 at 10:45 AM